Homeownership Council Of America
- Assets
- $1.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Washington, DC
- Founding
- 10/2007
- Data as of
- 12/2023
- EIN
- 87-0798977
Organization Overview
Homeownership Council Of America is located in Washington, DC. The organization was established in 2007. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2023, Homeownership Council Of America employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homeownership Council Of America is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Homeownership Council Of America generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $631.5k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILD EQUITABLE ACCESS TO HOMEOWNERSHIP FOR AMERICAS UNDERSERVED COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLIMB: COMMUNITY LENDING INITIATIVES IN MORTGAGE BANKING IS A TECHNICAL ASSISTANCE AND CAPACITY BUILDING SERVICE FOR CDFIS, LENDERS, AND HUD-APPROVED HOUSING COUNSELING ORGANIZATIONS THAT WORK IN HOMEOWNERSHIP SERVICES FOR LOW INCOME POPULATIONS AND OTHER UNDERSERVED COMMUNITIES. HCA PROVIDES SPECIALIZED SERVICES AND INDUSTRY EXPERIENCE TO EACH ORGANIZATIONS LEADERSHIP TO SUPPORT SUSTAINABLE LENDING PRODUCTS, PARTNERSHIPS, AND DELIVERY SYSTEMS THAT INCREASE ACCESS TO CREDIT AND LENDING FOR UNDERSERVED HOMEBUYERS.
EQUITY DOWN PAYMENT ASSISTANCE / SPECIAL PURPOSE CREDIT PROGRAM: SUPPORTING LMI AND BIPOC FIRST TIME HOMEBUYERS WITH FORGIVABLE LOANS.
LENDER SERVICES: HCAS TEAM OF EXPERIENCED, NMLS LICENSED UNDERWRITERS WORK WITH MISSION-BASED ORGANIZATIONS, NONPROFIT LENDERS, AND COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) TO ENSURE THEM THE HIGHEST QUALITY OF MORTGAGE UNDERWRITING AND DOWN PAYMENT ASSISTANCE DELIVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gabriel Ewing Del Rio III President And CEO | OfficerTrustee | 40 | $183,163 |
Steve Oconnor Director | Trustee | 1 | $0 |
Francis Baffour Director | Trustee | 1 | $0 |
Maureen Schimmel Director | Trustee | 1 | $0 |
Sara Morgan Director | Trustee | 1 | $0 |
Clemente Mojica Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $180,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $180,000 |
| Total Program Service Revenue | $823,600 |
| Investment income | $23,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,026,842 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $183,163 |
| Compensation of current officers, directors, key employees. | $73,265 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,229 |
| Payroll taxes | $30,336 |
| Fees for services: Management | $30,141 |
| Fees for services: Legal | $1,545 |
| Fees for services: Accounting | $19,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $850 |
| Advertising and promotion | $30,795 |
| Office expenses | $34,812 |
| Information technology | $1,005 |
| Royalties | $0 |
| Occupancy | $858 |
| Travel | $58,164 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,528 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,676 |
| All other expenses | $0 |
| Total functional expenses | $631,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $502,430 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $529,456 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $166,947 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,198,833 |
| Accounts payable and accrued expenses | $9,244 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,244 |
| Net assets without donor restrictions | $1,189,589 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,198,833 |